Review: A measure of optimism (and one of cognac)
Finsbury Growth & Income Trust (FGT) is a focused portfolio of 25-30 stocks, mainly large cap and focused on the UK, although up to 20% at the time of acquisition (currently c 18%) may be held in overseas companies. Manager Nick Train is known for his long-term, low-turnover approach; the last complete exit from the portfolio was in 2013 and until the recent purchase of Rémy Cointreau, no new stocks had been bought since 2011. Long-term performance has been strong, with NAV and share price total returns in excess of 10% a year over 10 years, and the trust is ranked in the top quartile of its peer group over one, three, five and 10 years.Finsbury Growth & Income Trust is an investment trust company. Co.'s investment policy is to invest principally in the securities of U.K. listed companies, whilst up to a maximum of 20.0% of its portfolio, at the time of acquisition, can be invested in quoted companies worldwide. The portfolio will normally comprise up to 30 investments. Co. has appointed Frostrow Capital LLP (Frostrow) as alternative investment fund manager to provide company management, company secretarial, administrative and marketing services. Co. and Frostrow have jointly appointed Lindsell Train Limited as portfolio manager.
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